Larry Kudlow to Newsmax TV: $600 Checks Will Make It in Stimulus (Newsmax TV/"American Agenda")
By Eric Mack | Thursday, 17 December 2020 04:39 PM
It is no longer a matter of whether COVID-19 stimulus will be passed by Congress before the end of the session; it is just a matter of when and what it will entail exactly, according to White House economic adviser Larry Kudlow on Newsmax TV.
"There will be — I don't like to use a number precisely — in the neighborhood of $300 federal plus-up for unemployment assistance and in the neighborhood of $600 direct mail check to the entire population," Kudlow told Thursday's "American Agenda," saying a family of four would get $2,400.
COVID-19 related items for vaccines, distribution, or health items are also sure to be included, Kudlow added to host Bob Sellers.
"And this is important from a budget standpoint, there will be a repurposing of unspent funds in the last CARES Act," Kudlow said.
House Speaker Nancy Pelosi, D-Calif., had objected to the Trump administration's handling of the unspent CARES funds, but there have been concessions on both sides. Republicans have dropped their demands for COVID-19 liability protections for businesses, while Democrats have dropped their demands for non-COVID-19 bailouts for states, Kudlow said.
"It's a Christmas, holiday season present to men and women all across the country who have had a very hard time with the COVID virus," he said. "Lots of hardship, lots of heartbreak —President [Donald] Trump has always been behind the checks: 'Just give it to them; just give it to them.'
"It's not forever, but one more time, and hopefully they'll spend part of it, but mostly it will help them get through this."
The CARES Act cut stimulus checks on a sliding scale for those making less than $75,000 or $150,000 for married couples annually. The actual details of the bill need to be finalized, but Kudlow expressed confidence on unemployment and impact payments to middle-class Americans.
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